I admire a lot of things about Eversend, a startup that is building banking for Africa. Ugandan entrepreneur Stone Atwine, the cofounder and CEO, is meeting a very real need: more than 60% of Africans do not have a bank account, less than 3% have insurance, only 7% have access to credit, and people pay up to 31% for a cross-border money transfer. As a Black entrepreneur, Stone has experienced bias in fundraising (in 2020, companies with Black founders received just over 3% of U.S. venture capital), so the company turned to crowdfunding—and met its €550,000 ($644,000) goal in just two days. It havs won competitions, worked with top accelerators, and appeared on high-profile lists.
All of this is hugely impressive. But because Eversend completed the Techstars Berlin Accelerator, and I am the CEO of Techstars, I know certain things about the company’s business model that impress me even more.
Eversend is looking ahead at the insurance claims, payment needs, forced migrations,…
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Source : fastcompany.com
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